San Bernardino’s Bankruptcy Plan Seeks Bondholders Cuts

The bankrupt southern California city of San Bernardino is looking to exit court protection with a plan that pays some bondholders a penny on the dollar but maintains pension benefits for retired city workers. Read the Daily Bankruptcy Review article here.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

The Wall Street Journal reports on the collapse of the Plantation, Fla.-based Fashion Mall, which was partially owned by a Chinese fugitive.

According to Bloomberg, Puerto Rico is running toward the fiscal brink.

Stpehen J. Lubben writes via DealBook about shareholders in corporate bankruptcy cases.

The Globe and Mail has an opinion piece on the fairness of the judgments in the Nortel Networks Corp. bankruptcy.

Atlantic City, N.J.’s mayor said a bankruptcy filing by the city would hurt other towns, Law360 reports.

The Motley Fool looks at how Brazilian magnate Eike Batista’s wealth collapsed in a year.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa